Four years ago H&M Group pulled back on what had been a global expansion of its store network and began to emphasize e-commerce. In 2020, that meant closing some 170 stores, and in 2021 another 250; at the time its footprint topped 5,000 locations.
In its year-end report, the fast-fashion company’s former CEO, Helena Helmersson, said that physical locations provide customers with an opportunity to “try on clothes and be inspired.” Helmersson stepped down unexpectedly in the new year after four years at the helm, replaced by former H&M brand chief Daniel Ervér.
